OSS FAQ: All about the One Stop Shop

Posted on August 23, 2021 by admin

Q. What is the One Stop Shop?

The One Stop Shop (OSS) is an optional quarterly VAT reporting and payment system that’ll be live from July 1, 2021, as part of the EU VAT e-commerce package. This means that you can use the OSS to report and pay VAT on non-domestic B2C sales of the following types across the EU:

a) cross-border supplies of services

b) online intra-community distance sales of goods (selling VAT-applicable goods located in one EU country to a customer in another EU country)

Using the OSS, you can account and pay for VAT across EU with just one return. This is an extension of the Mini One Stop Shop (MOSS) that previously allowed you to file a single EU return for B2C sales of TBE (telecommunication, broadcast, and electronic) services.

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Q. What’s the purpose of the OSS?

The OSS has been introduced to ease the seller’s burden of having to register for VAT returns in each EU member state where there are customers. With the OSS, there’ll be a single EU VAT return for ecommerce distance selling which the seller can file from their home country.

Q. Who can use the OSS?

The OSS applies to any business making B2C sales in the EU (including charities and NGOs).

Q. What are the different kinds of OSS?

There are 2 kinds of OSS:

a) Union OSS

If your business is established in the EU, you can use the Union OSS to report VAT on intra-community distance sales and non-domestic sales of services to EU customers.

If you’re established outside the EU, you can use the Union OSS, but only to report intra-community distance sales of goods.

b) Non-Union OSS

If your business is not established in the EU, you can use the non-Union OSS to report VAT only on sales of services to EU customers. To do this, you’ll have to register with the tax authority in an EU country of your choice.

Note: The pan-European threshold of €10,000 (£8,600) will apply only if you have a fixed establishment (a permanent address from which to make supplies) in an EU state. If you only have a VAT number in an EU country, that won’t be considered a fixed establishment.

Q. Is it mandatory to use the OSS or IOSS?

Neither is mandatory. However, once you register, you should use the OSS or IOSS (Import One Stop Shop) for all applicable sales to EU customers. If you don’t want to use it, you’ll have to register for, account for, and pay VAT in each EU country you sell to. UK sellers who don’t use the OSS or IOSS will have to zero-rate their exports for domestic VAT (the goods will still be taxable under VAT, but the rate charged will be 0%) and apply VAT for imports.

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Q. How is OSS going to affect me as a seller?

Starting July 1, 2021, if you’re shipping goods from your home country to customers across the EU, you can use the OSS to report your sales across the EU. When you move from MOSS to the OSS, you can now use it to report any B2C service sale that’s subject to destination VAT, not just telecommunications, broadcasting, and electronic services.

If you’re an ecommerce seller, you can close your foreign VAT registrations and, instead, file a quarterly OSS return for your home country’s tax authority.

The existing country-specific EU distance selling thresholds will be removed and replaced with a single pan-European threshold of €10,000 (£8,600).

Q. What should online marketplaces do about the OSS?

Under the VAT e-commerce package, online marketplaces become deemed suppliers. This means that a marketplace can opt to use the OSS to report VAT for intra-community supplies between EU countries. If the marketplace facilitates a domestic supply of goods by a non-EU seller, it can use the Union OSS to report and pay VAT.

Q. Which state should I register in?

If you want to register for the OSS, you can do so in any EU member state or in the UK, as long as:

You’ve registered for VAT in that EU member state, or
You’re trading with the EU under the Northern Ireland protocol

If you cross the new pan-European threshold of €10,000 (£8,600) and want to use the UK’s OSS, you’ll have to register for VAT in the UK if you haven’t already. Note that if you’re using the OSS, you’ll have to register for VAT even if your overall turnover falls below the the usual UK VAT registration threshold of £85,000. If you don’t want to use the OSS, you don’t need to register for UK VAT, as long as you register and account for VAT in each EU member state to which you’re dispatching goods.

Q. When can I register for the OSS?

To register for the Union or non-Union OSS, you’ll have to apply and wait until the following quarter for your registration to become effective. So, for instance, if you register after July 1, 2021, your registration will become effective in October 2021 when the next quarter begins.

After you’ve applied, you may make supplies before your registration has become effective. If you do so, you’ll have to inform this to the tax authority in the relevant EU member state where you’ve registered. This should be done by the 10th of the month that follows the first supply you made after applying. This supply and the rest that follow will be counted together. For example, if you applied on July 15 for your registration to become effective in October, and you make a supply on July 30, you should inform the tax authority about it by August 10.

Note: If you had previously signed up for the non-Union MOSS, the EU member state that you registered in may reach out to you for more information related to the non-Union OSS. The only change in your process would be reporting more services via the non-Union OSS.

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Q. What should I do once I’ve registered for the OSS?

Once you’ve registered for the OSS, you should use it to account for VAT on all distance sales. You should also continue to file VAT returns in your own country. The OSS is a simplified return for non-domestic VAT, so you should continue to report your domestic supplies via the domestic VAT return.

The process for using OSS is similar to MOSS, where the VAT rate of the destination country (wherever you’re selling to) is charged at the point of sale, and then reported and paid on a quarterly basis via the online portal.

If your distance sales takes place through an online marketplace that’s in charge of supplies within the EU, the marketplace will have to account for VAT using OSS. Besides this, if you’re a B2C service provider or an event organiser, you can use the OSS VAT return to report your pan-EU sales, and you don’t have to register for VAT in each country.

If you have stock in warehouses (even if you use the Fulfilment by Amazon program) in other EU states, you have to remain foreign VAT registered in those states after July 2021.

Q. Can I use the OSS to reclaim input VAT or offset VAT returns?

No. The OSS only allows payment of output VAT and can’t be used to reclaim input VAT.

Q. I have a business in Northern Ireland. How will the OSS affect me?

Under the Northern Ireland protocol, the EU VAT rules apply only to goods, and not services. So if you run a business in Northern Ireland and opt to use the OSS, you’ll have to report all distance sales of goods through the Union OSS, but use the non-Union OSS for services.

Q. I have a business in the UK, and sell to EU customers. How do I use the OSS, and what happens if I don’t use it?

If you have a fixed establishment in an EU country, you can register for the Union OSS in that country and use it for sales of goods. If you don’t have a fixed establishment but want to use the Union OSS for intra-community distance sales, register in the country that your goods are being sent from.

If you carry out intra-community distance sales, then you can register for the Union OSS and use it to account for VAT.

If you’re selling to EU customers through an online marketplace, then you won’t need to account for VAT on intra-community distance sales or B2C domestic sales within the EU. Your marketplace will take care of it.

If you don’t have a fixed establishment and you sell services to EU customers, choose any EU country to register and use the non-Union OSS.

If you don’t opt to use the OSS, you must register for VAT in each country that you’ll be selling your supplies to.

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Here are the top 7 cash flow mistakes that can cripple your small business

Posted on August 16, 2021 by admin

All businesses run on cash. Managing money is an essential skill that all business owners should hone as the business progresses in its lifecycle.

Small business owners are often caught in a bundle of activities aimed towards business growth, with very little time or money to assign resources towards monitoring their cash flow. At this stage, there are many chances to derail your business due to mismanagement of cash. According to a report from CBInsights, 29% of businesses fail because they run out of cash.

Some common mistakes that can lead to cash flow issues include forced growth, miscalculation of profits, insufficient planning for a lean period or crisis, problems collecting payments and more. The first thing that illustrates a problem with cash flow is a dip in sales and a stagnant inventory, both of which directly affect your revenue. Poor money management and forecasting can lead to multiple cash flow gaps in your business, ultimately preventing you from paying your bills on time.

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For your business to succeed, you must check for short term and long term solutions to avoid running into financial problems. Good cash flow management will ensure that you have enough cash to pay your employees on time, purchase inventory to fulfill your orders, have ample stashed in bank account as reserves, all while carving out an efficient way to collect payments before the due date. This will eventually prevent you from overspending and help you with your businesses’ growth plan.

In this article, you will read about common cash flow problems businesses face and what you can do to save yours from a pool of debt.

Common cash flow mistakes to avoid

1. Not monitoring financial statements

Financial reporting is the method of monitoring financial statements at defined time intervals. A cash flow statement is a financial statement that gives you a detailed insight of your company’s expenses. Investors and other stakeholders rely on this document to judge the value of your business. When you do not monitor your financial statements regularly, you create chances for misinterpreting your businesses’ progress, which may lead to bad decisions.

To avoid roadblocks due to cash flow, you must prepare a cash flow budget to predict future earnings. Good predictions are only possible when you have clear financials that are reconciled frequently.

2.Confusing cash flow with profit

Business owners are always on the lookout for that one key metric to understand the financial health of their business. In such situations, cash flow and profit are often pitted against one another.

Cash flow is the net income of cash moving in to or out of a business at any given time. Profit is the money that remains when you subtract the operating expenses from revenue.

It is possible for your business to be profitable and still have negative cash flow keeping you from paying regular expenses and creating hurdles in your growth plans. Your business can also have a positive cash flow and yet find it hard to make a profit (usually the case in start-ups and scaling businesses).

Cash flow and profit are not the same, and it is important that you understand the difference between the two before you make any important business decisions.

For example, assume that you purchase wooden chairs for Rs 6000 at a 40% margin and sell it for Rs 10000. You can assume that you are making 40% on every sale, after considering minor expenses. However, at the end of a quarter as you prepare your balance sheet, you could be surprised at the losses your business made. In your calculations you did not consider a variety of costs like transaction fees, shipping costs, and costs of storing and returns (which might have been different for each sale).

You could have easily assumed that you are making a profit every transaction, but after including overhead costs you can see the business actually took a loss. When your business cannot keep up with the losses, it becomes difficult to fulfil the cash commitments, leading to a cash crunch.

Forecasting the consequences of such expenses is a necessary step and can be helpful in determining if there’s enough money in the bank account to meet all your expenses. For a healthy cash flow, you must first subtract your current expenses and future costs, like tax, from your revenue. Your business will only be profitable if there’s any money left after this.

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3.Unprepared for the lean period

Rainy days are inevitable in a business. You may not get payments on time, have insufficient cash to pay your dues, have to suddenly invest in repairing expensive equipment or lose customers during a crisis. Such excess expenses combined with insufficient financial reserves can drive your business bankrupt.

Planning the cash flow for your business is always worth the time. As a short-term plan, you can consider stashing away some money as a cash reserve. Financial experts suggest that you can ideally set aside three to six months of your company’s regular expenses as cash reserves. Of course, the best way is to find out your business needs and analyse your financial statements before fixing an amount.

You must also have a long-term cash flow outlook. This will help you forecast the cash required for business operations over a period of two to five years. The best place to start would be to monitor your current income and expenses.

Here are a few things you can do to save up:

Set a monthly goal and set aside that amount every month.
Maintain a separate account to prevent from spending it elsewhere.
Always try and cut down on non-essential expenses.
If you receive a lump sum as profit or receivable, try to allocate a decent part of it to this account.

Your main goal should be to accumulate enough cash as a safety net to meet your needs during lean period, irrespective of how well your business is performing.

4. Not focusing on late payments

Late payments disrupt the flow of cash in a business. You will need to spend a lot of time and effort to chase down customers who owe you. There are chances that your business might run out of funds, making it tough for you to pay your own bills on time and putting your own business at risk.

As a temporary solution, you can opt for loans to pay your suppliers and employees on time. However, it is still difficult to perform core business activities efficiently with insufficient cash in hand.

You must understand that late payments cannot be avoided but can be managed with the right plan of action. Here are a few suggestions:

Clarify to your customers, in advance, about penalties you might charge in case of late payments.
Since smaller businesses usually do not charge penalties on late payments from customers, you can set up payment reminders for receiving timely payments.
If someone is unable to make payments for a prolonged period, try renegotiating the payment terms.
Consider rewarding customers who make early payments. You can offer a discount on open invoices or provide them a free service.

5.Trying to expand too quickly

When your business is flourishing, you are faced with increased demands for your products and services. When it happens quickly, you may find it difficult for your business to adhere to the business financial plan that you had devised for the year.

Investing in a bigger office space, hiring more staff, and rolling out new products are but a few scenarios indicating forced growth. Although such initiatives may bring in more revenue from time to time, they can severely impact your daily operations if not planned correctly.

For example, let us assume that you are experimenting by investing in social media ads for your business. In the first month of investment, you receive a good return. So, you increase your ad spend three times expecting three times an increase in sales.

Even though you might generate more leads, what happens if your ad spend is not directly proportional to the sales? You might end up spending more than you earn, leading to inconsistencies in cash flow. You might need to take a short term loan to cover up your monthly expenses.

Forced growth can lead to problems like improper management of business, inability to manufacture inventory quickly enough to fulfil orders or difficulties in customer service.

Most business owners aim for sustained growth. Efficiently planning and estimating costs involved in expansion can help you manage your cash outflows better. However, you must also forecast and set aside money for paying your employees and suppliers on time and still have enough to pay for the office space while managing to convert the incoming cash into inventory orders. Your goal should be to fulfill all expenses that arise due to expansion in a single cash cycle.

6. Inconsistencies due to seasonal nature of business

Seasonal businesses are businesses that operate in one or two seasons in a year. Such businesses do not have a year-long operation.

For example, if you are selling winter wear, then the only time your sales might pick up is before and during the winter season. During the other seasons your sales may drop and there will be more outflow of cash.

As a business owner, you should find ways to make sufficient income to generate business during slow periods; this will help you maintain your cash flow. You can try partnering with businesses from other industries to create mutual benefits or to offer discount prices for your products. You can even implement creative solutions like hosting events to distribute your product samples, set up an online store or finding a niche market and create products for that audience.

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7. Inefficient management of tax

Paying tax is an obligation and needs to be settled whenever it is due, whether you are a monthly, quarterly or annual payer. Missing out on the due date and making mistakes while filing returns can attract interest and penalties, and may even have the Income Tax authorities visiting your premises demanding an audit. Not only is it expensive, but it takes up valuable time from your day-to -day business activities. Hence, it is important that you keep account of your taxes.

You can meet with a tax consultant every year to calculate the amount of tax that you will be required to pay at the end of a financial year. You should come up with a tax plan after taking into account the cash flow needs of future business operations. A good tax plan accounts for all tax consequences and calculates your income, based on which you can plan activities for long-term progress. It also helps save your business from uncertain tax rates that can affect cash outflows.

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How do I sort recurring invoices?

Posted on August 14, 2021 by admin

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Sort recurring invoices

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Recurring invoices can be sorted under three categories – ‘active’, ‘expired’, and ‘stopped’.

‘Active’ indicates that the invoices still being sent out to the client once every recurring period
‘Expired’ invoices are inactive as they have reached the ‘End’ recurring date set, and are no longer being sent to the customer.
‘Stopped’ recurring invoices are those that have been manually stopped from being sent to the customer. You can make a recurring invoice STOP by selecting the invoice, clicking on ‘More Actions’ – ‘STOP’.

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Recurring invoices allow you to save time, plan ahead, and ensure you always get paid on schedule. They are often the most convenient solution for your regular or subscription customers. Here you’ll find a guide to creating Recurring Invoices and scheduling your cash flow well into the future.

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How can I add a date to the description field while sending a recurring invoice?

Posted on August 14, 2021 by admin

Adding date to the description field

1) You can add a date to the description field of each item, to specify start and end date of the recurring invoice. To do this, simply go to the item field, and start introducing the necessary placeholders in the ‘Item details’ section.

Days are represented with %(d)%, %(day)%, or %(DAY)%, *
Months are represented with %(m)%, %(month)%, %(MONTH)% (to depict the month as a word eg: January) or %(mm)% (to depict the month as a number eg: 1)
Years are represented with %(y)%, %(year)% or %(YEAR)%,

Note : You can also combine all three date components under a single placeholder too (Eg: %(d)(m)(y)% is a valid command).

2) Mentioning Time frames : Frame your start and end dates in any format using the above variations. The format used to represent days, months and years can be different

Eg: %(d)%,%(M)%,%(Year)% is a valid format even though days are represented with in small letters, months with capitals and years are represented with the word ‘Year’.).

3) To add or subtract days,months or years, simply use the “+” and “-” keys. Eg: %(d+15)%,%(m+3)%,%(y)% results in 15 days and 3 months being added.

Note : The placeholders functions are very context specific, so please take care with the way they’re used.

Example : To add one month, use ‘%m+1%’ rather than ‘%d+30%’ since the latter would see your date jump from March 1’st to March 31’st (an addition of 30 days) and not April 1’st like required.

4) Delimiters are used in between the date components. The valid delimiters are the comma(,), the hyphen(-), the dot(.) and white space. If none of these delimiters are specified, space is taken as the default delimiter. Three different delimiters can be used while mentioning a date, but not more than one should be used between a pair of date components

Example :-

’%(d)% , %(m)% – %(y)%’ (Two different delimiters comma and hyphen used between the components) – Valid scenario.
’%(d)% ,,%(m)% – %(y)%’ (Delimiters used twice between a pair of date components) – Invalid scenario.

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Different options to create and send recurring invoices

Posted on August 14, 2021 by admin

Follow these steps to customize how and when recurring invoices are sent out.

Click on the gear icon on the top right corner and select Preferences from the drop down.
Now click on Recurring Invoices, here you can select how you want to handle recurring invoices,

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Create Invoices as drafts – Your recurring invoices are only saved as drafts. You can review them, make changes and send them out manually.
Create and send invoices – Your recurring invoices are sent out to the customers for payment automatically once they’re created.
Create, Charge and send invoices – The customer’s credit card associated with the recurring invoice is charged automatically and invoices are sent out for their reference.

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How do we create a recurring invoice?

Posted on August 14, 2021 by admin

A Recurring Invoice can be created either from :

Recurring Invoices module
Invoices module

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To create a recurring invoice :

Go to the Recurring Invoices module.
Click ”+” icon and proceed to create a recurring invoice as usual.
You will be prompted to enter data relevant to recurring invoices, such as Start and End time, and Recurring frequency. Enter the information according to the specifications which you want your recurring invoice to possess.
Save the changes by clicking on the Save.

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To make an invoice recurring, all you need to do is :

Go to the Invoices module.
Select the specific invoice you want to make recurring.
Click on More –> Make recurring.
Fill in the appropriate fields.

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Also, a New Invoice can be made Recurring using the button Make Recurring given at the bottom right of the Invoice creation page.

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Everything You Need to Know About GST E-invoices

Posted on August 13, 2021 by admin

What is an e-invoice and an e-invoice under GST?

E-invoices, often known as electronic invoicing, is a GST-compliant electronic authentication technique. All B2B and export invoices generated by a business must be registered with the government system, the Invoice Registration Portal (IRP), and each invoice must be assigned a unique identification number called an Invoice Reference Number (IRN). In addition to IRN, the IRP will create a digitally signed QR code with selected invoice details and digitally sign the invoice data that is provided. As a result, an e-invoice is a document that contains an IRN and a digitally signed QR code printed on it.

After an IRN has been generated and an invoice has been authenticated, the details of the invoice must be made available on the GST and EWB portals.

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Who requires the creation of an E-Invoices?

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Based on AATO (Aggregate Annual Turnover):

E-Invoice has been gradually introduced in the country, based on the companies’ aggregate annual turnover. On October 1, 2020, the first phase went live for companies with a turnover of more than Rs.500 crore. On January 1, 2021, the second phase went live for enterprises with a turnover of more than Rs.100CR.

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On the basis of the fiscal year:

AATO in any preceding Financial Year from 2017-18 onwards must be evaluated to determine the applicability of the E-Invoicing obligation, according to Not. No. 13/2020, as amended by Not. No. 70/2020 and Not. No. 88/2020. The AATO is calculated based on GST returns. On the E-Invoice Portal, the GST System has also made it possible to examine the applicability.

Based on the Entity Type:

Suppliers are the only ones who can generate an e-invoice. E-Invoices cannot be generated by recipients or transporters. On behalf of the sellers on their platforms, e-commerce operators can generate e-invoices. E-Invoicing is something that E-commerce operators should be aware of.

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Who doesn’t need to create E-Invoices?

According to GST notification No. 13/2020-Central Tax dated March 21, 2020, the following individuals are exempt from issuing e-invoices:

Company that provides insurance.
A financial institution.
Financial establishment.
NBFCs.
GTA.
Passenger transportation service provider.
Admission to the screening of cinematograph films in multiplex screens is provided by a service provider.

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What kind of documents must be reported to the GST system as part of the E-Invoicing process?

The following papers must be reported to the e-invoice system by the taxpayers.

Supplier’s invoice.
Supplier’s Credit Note
Supplier’s Debit Note

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As a result, E-Invoicing does not require the reporting of Bills of Supply and Delivery Challan/Job Work Challan.

How can I create E-invoices (electronic invoice)?

The taxpayer’s system generates an invoice, which is subsequently transmitted to the Invoice Registration Portal (IRP) for approval. The invoice data is updated with IRPs digital signature and a QR Code, as well as the Invoice Registration Number, once it has been authorised (IRN). An E-Invoice is what this is called.

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What should an e-invoice receiver look for?

The extra-information relating to invoice reference number will now be included in the e-invoices received from suppliers (to whom the mandate applies) (IRN). As a result, recipients of e-invoices must be aware of the mandate’s applicability to their vendor list. Not only that, but the receivers must also know ahead of time the documents they will get.

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What influence will e-invoicing have on the procurement cycle?

As a recipient of standard e-invoices, the accounting systems can now automate the recording of purchase invoices, resulting in increased efficiency and accuracy of data in source systems. Furthermore, because IRN is unique to each invoice, it might be useful for identifying similar invoices and hence for reconciliation.

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Under the new e-invoicing system, all business to business (B2B) invoices will get electronically authenticated by GSTN. As done in the past, all businesses will continue to generate invoices on their respective ERP.

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10 best invoicing practices to maintain a steady cash flow during the COVID-19 crisis

Posted on August 13, 2021 by admin

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We’re all witnessing the effect that COVID-19 is having on businesses throughout the world. As CX expert Shep Hyken remarked: “In difficult times, it is more important than ever to maintain or boost the customer experience.” While standing up for customers is definitely a priority, it’s equally important to have a positive cash flow and ensure you don’t run low on reserves. Here are a few best invoicing practices that can help you maintain a balance:

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Best Invoicing Practices

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1. Communicate clearly and candidly with your customers

Customers might have to make tough choices during these uncertain times, and they may have questions regarding cancellation and refund policies or your Business Continuity Process (BCP). A clear communication strategy can not only address those ambiguities but can also build trust with your customers.

If you offer a self-service portal where your customers can log in and view their transactions, you can display information about these policies there.

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2. Be approachable

If you are sending out automatic payment reminders but your customers are having problems paying, they need a way to contact you quickly and discuss their options. Make sure you include all your contact information in the reminder emails that you’re sending.

This extends to cancellations as well—if a customer decides to call you before canceling the service, it’s a chance to figure out a solution so you don’t lose their business. Make sure you take advantage of these opportunities!

3. Relax deadlines

Your customers’ priority at this moment will be keeping their family and loved ones safe. So your estimates might be accepted a little later than usual, and your invoice payments may come in a little later too. Instead of bombarding customers with multiple reminder emails, consider relaxing these deadlines for a little while.

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4. Allow partial payments for invoices

As a business owner, your goal is (and should be!) to get every invoice 100% paid on time, every time. However, in times like this, if your customers are willing to make partial payments rather than a bulk single payment, allowing them to do so helps improve your cash flow. And so it is one of the invoicing practices.

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5. Invoice factoring

Factoring invoices is an option that businesses can use to meet their immediate cash needs. The businesses get paid a reduced amount upfront by the factoring companies, who in turn collect payments from customers when they are due.

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6. Offer credits and discounts

By offering discounts for your outstanding invoices, you are proving that you care enough about your customers to give them a bit of a break.

Alternatively, you can offer credits to be applied on their next subscription renewal.

7. Pause, don’t cancel

With worldwide travel restrictions and shutdowns in place, businesses have already started slowing down. It’s only natural for your customers to cancel some of their services. To keep them from churning permanently, provide an option to pause the subscription for a while, instead of canceling it altogether.

Alternatively, you can extend the next subscription renewal date by a month or two without charging the customers. Think carefully before offering this, though, because not all businesses can afford to continue offering services free of charge.

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8. Write off invoices in special cases

Even after you offer a discount or extend the deadline for payment, if a customer is severely impacted by this pandemic and won’t be able to pay you back any time soon, you can try to collect partial payments and write off the remaining invoice amount.

Writing off an invoice is the last resort. To ensure you don’t write off too large a portion of your receivables, it’s good to regularly monitor your bad debt incurred during this period. And so it is the on of the best invoicing practices.

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9. Increase credit limits for loyal customers

If a customer has been with you for a long time and is sticking with you during this period, an increased credit limit is a good way to thank them for their business. By increasing their credit limit, you are letting them know that you continue to want their business.

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10. Know why your customers leave

If your customers choose to cancel their subscription, you should definitely ask them if they’d like to give a reason. This information can not only help you understand your customer trends, but also reduce your churn. Depending on the reason they enter, you can have your customer support or retention team give them a call and try to win them back.

Though some of these tips might have a negative effect on your finances temporarily, they can gain you long-term benefits like customer loyalty and customer retention, which will help your business recover more easily. And hence helpful for invoicing practices.

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To help you implement these strategies, Zoho’s invoicing solutions—Zoho Invoice and Zoho Subscriptions—offer all of these functions either directly or through integrations.

Did you find these tips useful? Can you think of some other cash flow strategies that businesses can use to get through difficult times? Let us know in the comments.

Take care and stay safe! We’ll get through this together.

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How do I change the primary email address that is used to access my Zoho Invoice account?

Posted on July 27, 2021 by admin

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How do I change the primary email address that is used to access my Zoho Invoice account?

To change your primary email address, kindly follow the below mentioned steps:

Log into accounts.zoho.com
Select My Profile Info and click on the Email Preferences tab.
Click on the Add Email button present on the top-right corner and enter the email address which you would like to make as primary.

Enter your account’s password and click on the Add Email button.

Now, hover your cursor over the newly added secondary email, and click on the green mailbox icon.

This action will make the newly added email address into your new primary email address.
You can now use this primary email address to access all the Zoho applications.

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What happens when I import the same file twice in Zoho Invoice? Will the already existing data get overwritten?

When you import the same file twice, the entries of the file won’t replace the already existing files. Instead, it skips the existing entries and imports the ones that are new.

PS: This rule does not apply if you choose “Overwrite” option while importing data in the Contacts and Items modules. By clicking this, all the values in the existing records will be replaced with the imported ones and cannot be restored

Is it possible to add SPF and DKIM records to validate transactional emails from Zoho Invoice?

Yes. You can include zoho.com to your SPF (Sender Policy Framework)record. This entry represents all mail sending services of Zoho, and therefore including this entry would be sufficient if you use any other Zoho Product as well.

Note: Configuring this helps in cases where emails sent from customer addresses, might sometimes be caught in the recipient’s spam filter. To avoid this, we recommend you to add zoho.com in the SPF record of your domain’s DNS settings.

We hope that adding SPF record would be enough and there would no need for adding our public DKIM keys.

However, feel free to contact support[at]zohoinvoice[dot]com should you require any assistance on this regard.

Can we use an external SMTP to send emails from Zoho Invoice?

No. Currently we do not have an option to use external SMTP to send emails from our service.

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How do I change the theme of my organization?

To change the theme of your organization, kindly follow the instructions below:

Click on the Gear icon on the top-right corner and select Preferences.
Now click on the Branding tab.
Scroll down to the Themes section.
Click on the drop-down and select a theme that you wish to apply to your organization.

Changing the theme for an organisation will also reflect in its respective client portal.

I have three organizations under a parent organization. Will I be able to create individual organizations and monitor their activities in one place?

You can create multiple organizations in Zoho Invoice and switch between them whenever necessary. But, you cannot monitor the activities of all the organizations in one place. This feature is currently not available in Zoho Invoice.

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I have two stores with different names and addresses. How can I use Zoho Invoice for both the stores? Do I need to buy two separate subscriptions?

Actually, no you don’t have to get two separate subscriptions, since there is a workaround for this.

You can create two templates and customize one of them to show your alternate address, by replacing your organization’s address. Here is how you do this:

Open Settings and click on Templates.
Clone your Default template and name it appropriately.
Hover your cursor over the cloned template and click on Edit.
Under Template Properties, uncheck the box that says Show Organization Logo.
Next, navigate to Header & Document Information and click on Customize your header content.
Type in the other store’s name and address and click on Preview.
Don’t forget to hit Save, present on the top.

Now you can use this template for your transactions, by scrolling down on your editor screen, click on the edit option present beside the Template field, and choose the alternate template.

Please refer to the gif file present below for further clarity:

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How does the Configure Emails option work?

The Configure Emails option helps you to add additional email addresses to your organization. Transactions can be sent to your customers from any one of these email addresses as well. To do so:

Click Configure Emails.
Click the +Add Additional Contact option to enter the name and the email address of the contact and hit Save.

An email would be sent to that email address with the verification link. The owner of the email address will have to forward that mail to you.
You need to click the verification link to complete the verification process.
To send transactions via the newly added email id, just move your mouse on the side of the email addresses and hit Mark as primary.

NOTE: This flow of email address verification has been set in this pattern, to ensure authentication of the users. As, your Zoho Invoice account contains critical financial information, we make sure that only the right person gets access to it.

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Can I use Zoho Invoice for free?

Posted on July 27, 2021 by Intern

Can I use Zoho Invoice for free?

Yes, you can!

Zoho Invoice is forever-free invoicing software that helps small businesses manage their invoices and collect payments effortlessly.

It’s packed with features that are essential for taking care of all your billing needs. With it, you’ll be able to:

Create invoices, retainers, and credit notes
Automate payment reminders
Collect online & offline payments
Record expenses
Offer a self-service portal for your customers
Log work-hours and bill clients for projects
View multiple reports

And much more, all available fully free of cost!

Get Started with Zoho Invoice Now

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How do I backup my data?

To backup all the data of your Zoho Invoice account, kindly follow the below mentioned steps:

Click on the gear icon present on the top-right corner of the page, and select Data Backup.

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Click on the Backup Your Data button.

A few minutes after you click the button (approx. 30 minutes), you will receive an email with a link to download your data.

Note: Backing up your data today will not allow you to initiate another backup for the next 15 days.

Is it possible to change the email address with which I access my Zoho Invoice account?

Yes. You can change the email address with which you access your Zoho Invoice organization. You can find the list of scenarios and the corresponding steps you could use to change your email address.

Case 1: If you’ve signed up for Zoho Invoice using your personal email address and plan on using your organization email to access your Zoho Invoice account.

In this case, you can change the email address by following steps mentioned here.

Note: Kindly make sure that the email address to which you wish to switch shouldn’t already have a Zoho account.

Case 2: You’re in the paid plan and you wish to access your Zoho Invoice account using another email address.

To add a new email address, kindly follow the instructions below:

Click on the Gear icon on the top and select the Users option.
Click Invite User and enter your new email address.
Choose the user role as Admin and click Send.
You/the user will receive an email invitation to join the organization.
Accept the invitation and log into the organization using the new email address.
Now, head to the Users section and delete the user with the old email address.

Note: If you belong to the free plan/exceed the user limit, you cannot add more than one user. In that case, send us an email to support[at]zohoinvoice[dot]com and we will provide you permission to add another user. Once we’ve enabled the option, we’ll let you know and you can follow the above steps to add your new email address.

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Why am I not able to send invoices, estimates, etc. when I use an AOL email address as my primary email address?

If you create your Zoho Invoice account using an AOL email address, you won’t be able to send invoices, estimates to your customers as AOL’s DMARC policy does not allow Zoho Invoice to send emails on behalf of users/businesses using AOL addresses.

Hence, we advise you to change your primary email address created under a different domain. To know more about how to change your primary email address, kindly click here.

How do I make my company’s logo visible on all my invoices?

To make your logo visible on your invoice, you will have to upload your logo on to the organizational profile of your Zoho Invoice account. To upload your organization logo:

Login to your Zoho Invoice account and click on the Gear icon present on the top right corner of the page.
Select the Organization Profile option.
Click on the Upload your logo option to upload your organization’s logo from your computer.
Kindly make sure that the preferred image size for your logo is 240px x 240px @ 72 DPI (Maximum size of 1MB.)
Once you upload your logo, click on the Save button for the changes to take effect.
Now, your organization logo will be visible in all your invoices.

After uploading the logo, kindly make sure that the option to display your organization logo on all your invoices is enabled. To do that:

Click on the gear icon present on the top right corner of the page and select Templates.
Choose the invoice template of your choice and click on the Edit button.
Tap on the Header section and check whether the Show Organization Logo option is checked. If not, check it and click on the Save button.

I forgot the password for my Zoho Invoice account. How do I reset it?

Click on the Forgot Password link in the Zoho Invoice login screen. Enter your registered email address, enter the captcha code and hit Request.

You will receive an email to the registered email address with the password reset link. Click the link and reset the password.

You will now be able to login to your Zoho Invoice account with your new password.

Can I select my country as India but, have USD as the base currency?

Yes, you can.

In order to create an Organization with India as Country and Base Currency as USD,

Create an organization with some other country name (say Singapore) and choose the currency as USD.
Once the organization has been created, click on the Gear icon, select Organization Profile and edit the country name as India and finally click Save.

Note: This case can be applicable for all the organizations having their country as USA, UK, Canada,Australia and India wherein the user wishes to choose a country but have a different base currency.

I have two organizations in Zoho Invoice. How do I transfer data between both the organizations?

While it is not possible to automatically transfer data between two organizations, you can manually export data from one organization and import it into the other.

Click here to learn more about how to Import & Export data from your Zoho Invoice organization.

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I created two organizations under different email accounts.How do I bring both the organizations so that I can manage them under a single account?

Zoho Invoice allows you to manage multiple organizations under a single account. If you’ve mistakenly created two accounts to create two organizations, you can bring them together under a single account by following the below mentioned steps:

Let’s take an example where you have created two organizations, Automatic Advertising and Automatic Design under different email addresses admin@example.com and admin@example.net (in that order) and you wish to bring both of the organizations under the email address admin@example.com
Log into the account created using admin@example.net and invite admin@example.com as a user and assign the user role as Admin. (To know how to invite a user, click here.)
You will receive an email invite to join the organization.
Once you accept the invitation, log into your other account using admin@example.com and you will see both the organization’s listed under your account.
Now, after this is done, delete the user admin@example.net from the Users section of your organization (To know how to delete a user, click here).

Note: Users cannot be added to your organization if you are using the Free plan of Zoho Invoice.

Can I reset my organization?

No, it is not possible to reset your Zoho Invoice organization. The only option would be to delete the organization and create a new one.

To delete an organization, please follow the instructions below,

Click on the organization name on the top right corner and select Manage Organizations from the drop-down.
In the following page, you will see a list of all your organizations.
Click on the delete option under the organization you wish to remove.

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Confirm your action by clicking on Yes in the pop-up that follows.

Here are some things you should know:

The organization should not be under any Paid plan.
The user who is deleting the organization must be the last Admin user of the organization.
The CRM integration must be disabled.
If you’ve enabled the client portal for a few contacts, deleting the organization will not allow your customers to access/view their previous transactions with your organization.
Once an organisation is deleted, you cannot retrieve any data related to that organisation.
In case you wish to delete an organisation, but save all it’s data, you can opt for Data Backup before deleting. This option is available under the Gear icon, on the top right corner of Zoho Invoice screen.
- Select Data Backup and click on Backup Your Data. Once you have backed up your organization’s data, you can delete the organisation and still have all the related information.

P.S. : You will be able to perform the Data Backup only once in 15 days.

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